EX-12 3 c69318a1ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 ASSOCIATED BANC-CORP Computation of the Ratio of Earnings to Fixed Charges ($ in Thousands)
THREE MONTHS ENDED MARCH 31, YEARS ENDED DECEMBER 31, ------------------ ------------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 -------- -------- --------- -------- -------- -------- --------- Earnings: Income before income taxes $ 70,909 $ 57,290 $251,009 $229,821 $237,316 $232,963 $116,268 Fixed charges, excluding interest on deposits 20,174 45,718 161,573 169,529 106,379 67,085 75,522 Fixed charges, including interest on deposits 77,403 137,145 460,503 549,421 420,454 412,477 412,965 Adjusted earnings, excluding interest on deposits 100,083 103,008 412,582 399,350 343,695 300,048 191,790 Adjusted earnings, including interest on deposits 148,312 194,435 711,512 779,242 657,770 645,440 529,233 Fixed Charges: Total interest expense $ 76,879 $136,676 $458,637 $547,590 $418,775 $411,028 $411,637 Interest on deposits 48,229 91,427 298,930 379,892 314,075 345,392 337,443 Interest expense component of net rent expense 524 469 1,866 1,831 1,679 1,449 1,328 Fixed charges, excluding interest on deposits 29,174 45,718 161,573 169,529 106,379 67,085 75,522 Fixed charges, including interest on deposits 77,403 137,145 460,503 549,421 420,454 412,477 412,965 Ratio of Earnings to Fixed Charges: Excluding interest on deposits 3.43x 2.25x 2.55x 2.36x 3.23x 4.47x 2.54x Including interest on deposits 1.92 1.42 1.55 1.42 1.56 1.56 1.28